James Shavick, majority shareholder of Canadian network OUTtv, has bought out minority shareholders Pink Triangle Press and Les Tomlin’s Peace Point Entertainment Group.
Shavick and partner Joy MacPhail have taken their stake in the gay and lesbian specialty channel from 52% to around 95%.
Pink Triangle Press is cashing out of OUTtv and the TV platform after a decade of ownership to focus on the Internet and the mobile space, company president Ken Popert said in a statement.
“It has been an incredible journey being part of OUTtv for the past nine years. I know OUTtv will continue to thrive under the ongoing leadership of James Shavick and Brad Danks and wish them continued success with the business,” Peace Point’s Tomlin added in his own statement.
Shavick and McPhail consolidating their hold on OUTtv comes as COO Brad Danks is steadily taking the Canadian specialty channel from the fringes of the TV dial to targeting a more mainstream audience.
“We have enjoyed an excellent relationship with PTP [Pink Triangle] and PPEG [Peace Point] since we acquired the majority of shares in 2006,” Shavick said. “We will miss the capable assistance of Andrew Chang and the tremendous producing skills of Les Tomlin. I will personally especially miss the input of the iconic Ken Popert in the business.”